Is Elko, GA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Elko was a Neutral Market.
Key Takeaway
Elko is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Elko, GA
How much do homes in Elko, GA cost?
Median Sold Price
$367,250
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Elko have sold for 3.3% less than they did a year ago.
Summary: The median home sold price in Elko was $367,250 in May 2024, down 3.3% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $25K | - | N/A |
| 3 Bedrooms | $272.8K | $320.9K | +17.6% |
| 4 Bedrooms | $377.3K | $357.4K | -5.3% |
| 5+ Bedrooms | $410.8K | $401.3K | -2.3% |
Summary: Elko housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 17.6%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes decreased by 2.3%.
Housing Supply in Elko, GA
How many homes are available in Elko, GA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 32 | 34 | +6.3% |
Summary: The Elko real estate market had 34 homes for sale in May 2024, a 6.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 11 | 11 | 0.0% |
| 4 Bedrooms | 14 | 15 | +7.1% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Elko housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Elko, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 4 homes were sold or pending in Elko in May 2024, up by 33.3% month-over-month. Of the 4 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Elko, GA
How long does it take to sell a home in Elko, GA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 60 Days | 47 Days | -22.3% |
Summary: Homes in Elko had an average of 47 days on market in May 2024, down by 22.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Elko has remained consistent over time.
Summary: During May 2024, 4 homes were sold in Elko; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed.